BluSky Carbon Inc. (“BluSky” or the “Company”), an innovative entry into the carbon removal clean technology sector, is pleased to announce that it has executed a preliminary joint venture agreement with Ikigai Carbon Corporation (“Ikigai”), aimed at establishing and deploying future biochar projects in the African Republic of Namibia (“Namibia”).
The project is structured as a 50/50 “Joint Venture” (“JV”) partnership between BluSky and Ikigai under which both parties intend to collaborate regarding project financing, formation of Namibian entities, and securing local partnerships. The partnership will focus on deploying biochar technology and related projects in Namibia utilizing BluSky’s biomass Vulcan pyrolysis technology, operational and consulting services for biochar production, and biomass carbon removal.
Ikigai Carbon is a venture studio dedicated to scaling profitable businesses that transform waste into valuable resources with a focus on creating jobs and delivering socio-economic benefits to local communities.
Ikigai is led by Mr. Steen Rasmussen, an experienced entrepreneur with expertise in the capital markets and in the carbon credits sector. Steen oversaw the growth of CarbonCredits.com to become a leading media platform in the growing sector and among other ventures is helping scale BiocharToday.com to expand their reach, helping teach the world about the hundreds of benefits of biochar.
Ikigai has developed global sector relationships in multiple waste to value chains including Namibia-based Omiti Biochar who are in the process of scaling the removal of waste biomass and turning it into biocarbon products (biochar and biocoal) while generating millions of high-quality Biodiversity Carbon Removal Credits. In addition, the team has developed Ikigai Circular Mining, a program to remediate toxic mining sites using waste biocarbon in a proprietary six-stage process.
Ikigai Carbon’s principal, Steen Rasmussen shares, “Ikigai Carbon is extremely excited to work with BluSky Carbon to help unlock the next stage of our technology roadmap across rural Namibia, with a view to providing co-benefits for the community including, eventually, profit sharing, jobs, access to power and water while restoring degraded land.
Under the agreement, BluSky will provide biomass pyrolysis technology to the partnership or eventual joint entity, maintain proprietary rights to its technology while licensing its use for partnership purposes in Namibia, and work with Ikigai to secure project financing as needed. Ikigai Carbon will lead business development and manage relationships with Namibian government officials, local stakeholders, and operational partners and by maintaining an active role in all aspects of project management, along with collaborating with BluSky in securing project financing.
The resulting joint venture formed under a finalized Joint Venture Agreement (JVA) between BluSky and Ikigai (hereafter, the “Joint Venture”) shall have the exclusive Right of First Refusal (ROFR) for any additional biochar projects or related environmental technology projects initiated by either Party within Namibia.
Will Hessert, CEO of BluSky Carbon comments, “We believe biochar production can be one of the most powerful mechanisms of economic development. To achieve this, we need partners who have built incredible partnerships with local stakeholders. Ikigai has done a tremendous job achieving this so far, and we are excited to continue planning our coming joint facilities in Namibia.”
